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EXHIBIT " C " FEDERAL AND/OR STATE FUNDED CONTRACTS The administration of resources awarded by the Department to INDIAN RIVER COUNTY may be subject to audits and/or monitoring by the Department , as described in this section . MONITORING In addition to reviews of audits conducted in accordance with OMB Circular A - 133 and Section 215 . 971 F . S . , as revised (see "AUDITS" below) , monitoring procedures may include , but not be limited to , on -site visits by Department staff, limited scope audits as defined by OMB Circular A- 133 , as revised , and/or other procedures . By entering into this agreement, the recipient agrees to comply and cooperate fully with any monitoring procedures/processes deemed appropriate by the Department . In the event the Department determines that a limited scope audit of the recipient is appropriate , the recipient agrees to comply with any additional instructions provided by the Department staff to INDIAN RIVER COUNTY regarding such audit . INDIAN RIVER COUNTY further agrees to comply and cooperate with any inspections , reviews , investigations , or audits deemed necessary by the FDOT' s Office of Inspector General (OIG ) and Florida ' s Chief Financial Officer (CFO ) or Auditor General . AUDITS PART I : FEDERALLY FUNDED Recipients of federal funds ( Le . state , local government , or non - profit organizations as defined in OMB Circular A- 133 , as revised ) are to have audits done annually using the following criteria : 1 . In the event that the recipient expends $ 500 , 000 or more in Federal awards in its fiscal year, the recipient must have a single or program -specific audit conducted in accordance with the provisions of OMB Circular A- 133 , as revised . This agreement indicates Federal resources awarded through the Department by this agreement . In determining the Federal awards expended in its fiscal year, the recipient shall consider all sources of Federal awards , including Federal resources received from the Department . The determination of amounts of Federal awards expended should be in accordance with the guidelines established by OMB CircularA- 133 , as revised . An audit of the recipient conducted by the Auditor General in accordance with the provisions OMB Circular A- 133 , as revised , will meet the requirements of this part . 2 . In connection with the audit requirements addressed in Part I , paragraph 1 . , the recipient shall fulfill the requirements relative to auditee responsibilities as provided in Subpart C of OMB Circular A- 133 , as revised . 3 . If the recipient expends less than $ 500 , 000 in Federal awards in its fiscal year , an audit conducted in accordance with the provisions of OMB Circular A - 133 , as revised , is not required . However, if the recipient elects to have an audit conducted in accordance with the provisions of OMB Circular A- 133 , as revised , the cost of the audit must be paid from non - Federal resources ( i . e . , the cost of such an audit must be paid from recipient resources obtained from other than Federal entities) . 4 . Federal awards are to be identified using the Catalog of Federal Domestic Assistance (CFDA) title and number , award number and year, and name of the awarding federal agency . Page 11